Property Overview: 601 Mcmeans Avenue E
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Kildare-Redonda offers a practical and efficient layout with 960 sqft of living space, a renovated basement, and a detached garage. Built in 1971, it sits on a near-5,000 sqft lot, providing ample outdoor space for its neighbourhood context.
The primary appeal lies in its strong value proposition within its immediate area. The home's assessed value ranks in the elite top 5% on its own street, suggesting it is a standout property on Mcmeans Avenue E. This indicates a well-maintained or improved home relative to its closest peers. The renovated basement adds modern, functional living space.
This property would suit first-time buyers seeking a solid entry into a stable neighbourhood, or practical downsizers looking for a manageable single-level layout without sacrificing yard space. It’s a home for those who value being above-average for their immediate surroundings rather than chasing city-wide size trends, offering a sense of value and pride of place on its block.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to likely market value?
While the assessed value is strong for the street, it is a municipal valuation for tax purposes. The last known sale was in 2016, so current market value will be influenced by recent upgrades, condition, and the broader market. The high assessment relative to neighbours is a positive sign of its standing.
2. Is the living space sufficient for a small family?
At 960 sqft, the main floor living area is slightly below the city average. However, the renovated basement effectively doubles the usable space, making it viable for a small family, especially with the added benefit of a large lot for outdoor play.
3. What does the "elite" assessed value ranking mean for taxes?
A higher assessment relative to nearby homes typically results in a proportionally higher property tax bill. It’s advisable to budget for taxes based on the current assessed value of $34,700.
4. What is the significance of the detached garage?
A detached garage offers flexibility—it can be used for vehicle storage, a workshop, or extra storage without impacting the main home's layout. It is a valuable asset, especially on a larger lot where it doesn't dominate the yard.
5. How does the age of the home (1971) affect maintenance?
Homes from this era often have straightforward construction and layouts. While major components like the roof, windows, or furnace may be due for updates or replacement given its age, a renovated basement suggests some modernization has already begun. A thorough inspection is recommended.